MT4 vs MT5, which is better and why? This is the question any beginners ask before entering the market. Choosing the right platform will define the trading success as well as a set of tools and flexibility of techniques you implement. So, you need to be 100% sure a chosen instrument is the right match.
On the one hand, some may think there is no big difference between MT4 vs MT5, as they were developed by the same team to meet the same traders’ needs. The two platforms do have some similarities. However, they are slightly different in terms of features and functionality.
We are not going to dive deep into technicalities. To make the difference between two platforms clear, let’s have a look at major points of each.
MetaTrader 4 Features:
MetaTrader 5 Features:
Although we were not supposed to dive deep into technical details, we still need to mention another difference between the two platforms. It refers to the programming languages. MetaTrader 4 uses MQL4 while its today’s opponent is backed by MQL5. The last one comes with the “black box” functionality, making it possible for users to develop and create various frameworks, trading robots, and other software.
In other words, MT5 might seem to be a good option for partners and software developers while MT4 is more trader-oriented. On the other hand, MetaTrader 4 has also undergone some changes in 2014 with MetaQuotes functionality expansion that delivered more flexibility to the end-user.
The only benefit MT5 may have over its rival involves some key programming-related benefits. Users will appreciate a bit more advanced and flexible backtesting feature with strategies running faster. Additionally, with Mt5 you can run several currency pairs at the same time at a higher speed. I
The two platforms are not compatible. You cannot use MT4 with the MT5 account. Additionally, both tools do not have backward compatibility. It means that users are not able to run the same features and programs designed for the two separate platforms.
From traders’ perspectives, MT4 is still a better option offering enough flexibility and reliability to handle trades at any level. If you are more driven by technical upgrades and development ideas to create an exclusive trading software, MT5 can be a better option.
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.